Financial

Romanian aerospace company Aerostar S.A., has released its financial results for 2015, recording another successful year, with turnover up 21% and net profits increased by a substantial 61%. Exports represented some 77% of turnover, there was continued investment in plant and machinery and training, with employment remaining stable at just over 2000 people. During 2015 […]

Greek flag carrier AEGEAN Airlines reported key financial and operating results for the first quarter of 2016 with consolidated revenue at €147.9m, 7% higher compared to the first quarter of 2015. Passenger traffic rose by 9% to 2m passengers, with 6% more flights, as the company invested more capacity even in the winter months, continuing

El Al reported that revenues from operations amounted in the first quarter to approx. US$397m, compared to US$420m in the First Quarter of the previous year. The Company’s revenues declined as a result of the timing of Passover and a decrease in flight ticket prices due to the competition and the drop in oil prices.

Norsk Titanium AS, a supplier of aerospace-grade, additive manufactured, structural titanium components, has closed a US$10m growth debt facility with Harbert European Growth Capital Fund I (HEGCF) as part of the company’s current aerospace production financing round. The funds will be used to further strengthen Norsk Titanium’s leadership team and operations worldwide in support of

HEICO CORPORATION reported that net income increased 17% to US$38.7m in the second quarter of fiscal 2016, up from US$33.1m in the second quarter of fiscal 2015. In the first six months of fiscal 2016, net income increased 15% to US$69.9m (after a US$.03 reduction related to nonrecurring acquisition costs incurred in the first quarter

AviaAM Leasing, a Warsaw Stock Exchange listed aircraft leasing company, and the Henan Civil Aviation Development and Investment Company (HNCA) have signed a joint venture agreement, according to which the enterprises will establish a joint-venture aircraft leasing company. It is planned that the Henan-based JV will build and manage a fleet of narrow-body aircraft worth

Finnair signed an agreement to sell its Finnish business travel agency, SMT Oy, to American Express Global Business Travel (GBT). The transaction is expected to close during the third quarter of 2016. SMT has been a partner within the GBT network for 27 years. As one company, SMT and GBT will strengthen the service provided

Finnair has secured financing, arranged by BNP Paribas, for its fifth Airbus A350-900 XWB, which was delivered on April 29, 2016. The transaction amounts to approximately €128m, implemented using a Japanese Operating Lease with Call Option (JOLCO) structure. “This transaction represents yet another successful A350-900 financing for Finnair, and the third we have done using

Gogo reported the commencement of a private offering of US$500m aggregate principal amount of senior secured notes due 2022 to be issued by its direct wholly owned subsidiary, Gogo Intermediate Holdings (the Issuer), and its indirect wholly owned subsidiary, Gogo Finance. The Notes will be guaranteed on a senior secured basis by Gogo Inc. and

FLY is reporting net income for the first quarter of 2016 of US$7.1m, compared to net income of US$19.9m for the same period in 2015. The first quarter 2015 results include US$21.9m of end of lease revenue, whereas there was only US$3.2m of end of lease revenue in the first quarter of 2016. Adjusted net